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PERU: Fiscal Council Warns On Uncontrolled Rise In Fiscal Deficit

PERU
PeruEM BulletBulletGlobalEmerging Market NewsRegion
  • Peru’s Fiscal Council has said that the government has failed to curb the rise in the fiscal deficit, which has hit 4% of GDP for the past four months.
  • As a result, the government is unlikely to hit its revised 2.8% of GDP fiscal deficit ceiling for this year, it said.
  • After missing the 2023 fiscal ceiling, the Fiscal Council said that further non-compliance would seriously weaken the fiscal credibility of the country, with possible credit rating implications.
    • "*PERU'S FISCAL DEFICIT HAS GROWN UNCONTROLLABLY: FISCAL WATCHDOG" - BBG
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  • Peru’s Fiscal Council has said that the government has failed to curb the rise in the fiscal deficit, which has hit 4% of GDP for the past four months.
  • As a result, the government is unlikely to hit its revised 2.8% of GDP fiscal deficit ceiling for this year, it said.
  • After missing the 2023 fiscal ceiling, the Fiscal Council said that further non-compliance would seriously weaken the fiscal credibility of the country, with possible credit rating implications.
    • "*PERU'S FISCAL DEFICIT HAS GROWN UNCONTROLLABLY: FISCAL WATCHDOG" - BBG